After opening on a higher note, Indian benchmark indices continued their upward trend, closing the day with gains.

The BSE and the NSE benchmark indices reversed the 2-day losing streak and finished with strong gains on Monday, led by a rally in index heavyweight Reliance Industries and select banking shares.

At the closing bell, the BSE Sensex  closed higher by 1006 points (up 1.3%)

Meanwhile, the NSE Nifty closed points 289 higher (up 1.2%)

Reliance, Tata Steel, M&M among the top gainers today

HCL Tech, UltraTech Cement, and Nestle, on the other hand, were among the top losers today.

The GIFT Nifty was trading at  24,478, higher by 390 points at the time of writing.

The BSE MidCap index ended 1.3% higher, and the BSE SmallCap index ended 0.4% higher.

Barring the IT sector, all other Sectoral indices were trading positively today, with stocks in the banking sector and media sector witnessing buying.

The rupee is trading at Rs 85 against the US$.

Gold prices for the latest contract on MCX are trading 0.8% lower at Rs 94,153 per 10 grams.

Meanwhile, silver prices were trading 0.7% lower at Rs 95,690 per 1 kg.

Here are the five key factors driving the market's momentum:

#1 RIL beats Q4 results than expected

Reliance Industries shares rose 4% after its strong Q4 profit, driven by retail and digital growth, boosted the Sensex. The company's results were better than expected. Near-term triggers include new energy expansion, potential Jio tariff hikes and possible Jio IPO.

#2 Sustained FII buying

Foreign Institutional Investors (FIIs) have bought Rs 324.5 bn stocks over last 8 days, supporting market resilience. FIIs have shifted from seller to sustained buyer. This change is driven by the underperformance of US stocks, bonds and dollar. A weakening US economy may keep FIIs buying, supporting the market further.

#3 Weakening Dollar

A weaker dollar has boosted investors sentiment in India. This encourages foreign investors and supports the rupee. The dollar index fell to 99.6 from 109.8 in early February. A weaker dollar increase demand for the risk assets like metal.

#4 Crude Impact

Crue oil prices fell below Rs 5561 per barrel, easing inflation worries. Brent crude was at just Rs 5684 and US oil prices at Rs 5412.4. Lower oil benefits India, a major oil importer. This helps reduce pressure on the current account and inflation. With lower costs, businesses and consumers may see increased economic activity.

#5 Global Markets

Indian stock markets rose in line with other Asian markets. Japan's Nikkei and South Korea's index showed gains. European markets futures also increased. Us president Donald trump said trade talks with China are progressing, but proof is awaited. The positive global sentiments boosted Indian indices.
 

L&T Shares Drop Post Earnings

In the news from the financial services sector, shares of L&T Finance Ltd falls over 8% on Monday despite a 15% profit increase in final quarter of FY 24-25.

The company fell for third day, despite of recovering 30% from its low of Rs 139 per share. This year the stock has gained 22%.

The company made a profit of Rs 6.4 billion (bn) in the January to March quarter, which is 15% more than Rs 5.5 bn profit they made previous year.

L&T Finances total income rose to Rs 40.3 bn from 36.7 bn last year. Interest income to Rs 37.5 bn from Rs 33.2bn. Retail disbursement were Rs 148.9 bn, slightly lower than the previous quarter Rs 150.4 bn.

L&T plans to enter the gold loan market business to grow its own gold loan portfolio faster.

RBL Bank shares surge on profits

Moving on to the news from banking sector, shares of Private lender RBL Bank's surges 6% on 8 April 2025, despite an 81% drop in quarterly profit, RBL Bank's outlook is positive due to expected improved returns.

RBL Bank's quarterly net profit dropped to Rs 6.8 bn from Rs 35.3 bn last year. Despite higher other income and lower provision, the profit fell sharply.

RBL Bank's net interest income dropped 2.3% to Rs 156.3 bn due to lower loans in its Joint Liability Group business. Net Interest margins stayed steady at 4.8%. Bad loans were also added Rs 106 bn down from Rs 131 bn last quarter.

RBL expects its net margins to stay around 5.3% in FY26-27. The bank is likely to see loan growth of 16-18%, driven by retail and commercial banking, along with its significant decline in credit costs.

RBL is banking company offering range of banking services like Corporate Banking, Commercial Banking, Branch & Business Banking, Retail Assets and Treasury & Financial Markets Operations. These approach enables RBL Bank to carter to various customer needs, supporting individuals, small business and large corporation with specialized financial solutions.

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